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Securities and Exchange Commission Chairman Mary Schapiro says the agency's forthcoming fiduciary-rule proposal will respect the different business models under which investment advisers and broker-dealers operate. Schapiro's comments suggest that brokers will be able to continue charging commissions and promoting in-house products when they work with individual investors.

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The Labor Department could establish a fiduciary-rule exemption for independent marketing organizations that meet certain requirements to keep selling fixed-indexed annuities, experts say. That would eliminate the need for IMOs to apply to the department for designations as financial institutions, according to experts.

FSI and other groups opposed to the Labor Department's fiduciary rule have increased campaign contributions, according to records filed with the Federal Election Commission. FSI says it is still aggressively fighting the rule. "With the rule imminent, our advocacy was conducted more with internal staff, rather than outside consultants," spokesman Chris Paulitz said.

The Labor Department disregarded concerns from the staff of the Securities and Exchange Commission and other agencies while drafting its proposed fiduciary rule for retirement advice, according to a report by the Senate Homeland Security and Governmental Affairs Committee. "The [Senate Republicans'] staff found that the Labor Department frequently prioritized the expeditious completion of the rule-making process at the expense of thoughtful deliberation," the report says.

US lawmakers last week pushed the deadline to this week to finalize a spending plan, and negotiators are working on the details -- including a possible rider that would hinder the Labor Department's fiduciary rule.

America's top financial regulators say they're planning to forge ahead with implementing a fiduciary standard for advisers and brokers. Mary Schapiro, chairman of the Securities and Exchange Commission, and Phyllis Borzi, head of the Department of Labor's Employee Benefits Security Administration, have run into stiff opposition from industry groups and lawmakers such as GOP Rep. Spencer Bachus, but they say the fiduciary rule is important for investors.